Ultimately, with the entry of exit restrictions, it is clear worldwide that we are in a crisis that, after initial harsh interventions in economic life, will manifest itself in a downstream recession. As people see their basic liberties diminished, there is uncertainty about the duration as well as the economic impact. We are getting to know ourselves, our lives, our social contacts, our jobs anew and read about the "new normal" that futurologists are trying to describe. We read about "re-forecasts" that look from a day x in the future to today to see the changes that may be ongoing.(Here) One also reads about dark future scenarios in which the world order is shifted. All this helps each individual only to a limited extent out of their state of mourning over the loss of the old order.
What has been lost is foothold. A clear orientation towards norms, an everyday life that seemed irrefutable. And in this state of limbo life continues. Above all, the economic life, in which payments have to be made, contracts kept, new contracts signed.
Do you follow the "rock at the wall" principle or rather the "adapt to new realities" or a mixture of both? Here is one, my own, approach:
- Basically, it is important to be clear about the effects on your own business. What does that mean for my strategy, my planning, my operations and my cash position?
- Where can I find my floor? Say: If everything goes against me, where is my retreat that will definitely carry me over the crisis? What do I have to do? Was I honest enough with myself that I did everything I could, even against my first intuition?
- Where can I go at best? If everything goes well, what will my company look like?
- What can I take with me from my measures in the worst case scenario to my "real case", which lies somewhere between worst and best case? What makes sense in any case and only became clear because I was forced to think about it?
- Discuss this middle ground quickly with the entire team, adopt the plan based on it and then act quickly on it!
- Communicate! Everyone is asking the same questions and needs support. At least give this hold where you can. In your company.
- Plan is good, implementation is important! Now it is getting concrete and the measures have to be detailed so that the implementation is successful.
- Public grants are no help. Yes, there are gigantic programs that are supposed to support our economy, but it would be negligent to trust them and even count them in.
- Last but not least: Don't panic. Now is the time for leadership, with a cool head, and not for headless flutter.
In that sense: Stay healthy and communicate what you know! Also talk about what you don't know and communicate again as soon as you know it. Authentic leadership is believable and gives support in a volatile, uncertain world.